Dollar and Isaac pressure grain futures

Aug. 28, 2012 at 6:38 PM   |   0 comments

CHICAGO, Aug. 28 (UPI) -- Grain futures closed mixed on the Chicago Board of Trade Tuesday with the dollar index off 0.36 percent on the International Exchange.

Corn was off 4 3/4 to off 5 1/4, soybeans were up 2 3/4 to up 8, wheat was off 1 to off 7 1/4 and oats were off 2 3/4 to off 5.

Profit-taking continued in the corn market, as the U.S. Department of Agriculture said the harvest had just begun with less than 10 percent complete. Wheat futures hit a choppy day of trade that slid toward the close, following corn movement due to its value as a feed component. The soybean market remained on alert as Hurricane Isaac threatened southern growing areas.

The prices:

Corn: Sep 7.89 1/2 off 5, Dec 7.95 1/2 off 5 1/4, Mar 7.96 1/2 off 5, May 7.90 1/2 off 4 3/4.

Soybeans: Sep 17.32 1/2 up 2 3/4, Nov 17.22 1/4 up 3 1/2, Jan 17.14 1/2 up 3 1/4, Mar 16.38 1/4 up 8.

Wheat: Sep 8.54 3/4 off 7 1/4, Dec 8.75 1/2 off 5 3/4, Mar 8.86 1/2 off 5 1/2, May 8.82 1/4 off 1.

Oats: Sep 3.74 off 5, Dec 3.82 1/2 off 4 1/2, Mar 3.82 3/4 off 4 1/4, May 3.81 off 2 3/4.

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